The Central Bank of Russia has revoked the license for banking operations from LLC "American Express Bank". This decision was made based on the application of the bank itself, which submitted a request for voluntary liquidation. As a result, the bank ceased its operations in accordance with Russian law.
LLC "American Express Bank" was not part of the deposit insurance system, which means that its depositors were not protected by state guarantees in the event of bankruptcy.
The Central Bank noted that in terms of assets, "American Express Bank" ranked 300th in the Russian banking system.
In May 2024, Russian President Vladimir Putin approved the voluntary liquidation of this bank. This was the final step in terminating its operations in the Russian Federation after the company ceased cooperation with Russian partners who fell under sanctions back in 2022.
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